1. $BTC once again fell below 83k, then rebounded back to 87k, with weakened rebound momentum. In the past 24 hours, contract liquidations totaled 1.008 billion dollars, with both long and short positions being liquidated.

The 200-day moving average (SMA) support level is 82,587 dollars; if it falls below this, it will directly enter a technical bear market, with the next support level being the previous historical high of 73,757 dollars.

$BTC still remains above the 200-day moving average, indicating strong support from institutions and exchanges, which are still unwilling to enter a bear market.

2. The rebound of $BTC is mainly due to four reasons:

First, Zelensky posted: Thank you for the support from the United States, Ukraine agrees to quickly end the Russia-Ukraine war under Trump's leadership. Reuters reported that the development of rare earth minerals would be signed on March 5, which was later denied by the White House.

However, Zelensky still yielded to the U.S., and the Russia-Ukraine war is expected to end soon.

Second, the U.S. Secretary of Commerce posted: Trump will consider reducing and withdrawing some tariffs on Canada and Mexico, as long as they can properly control the influx of fentanyl, the tariffs can be lifted.

Third, market makers, institutions, and exchanges are still unwilling to let the market enter a bear market, they are still controlling price fluctuations, and of course, issuing tokens cannot stop, and harvesting leverage cannot stop.

Fourth, on March 7, Trump will host a cryptocurrency conference at the White House, which is also a favorable development that can be seen in the short term.#白宫首届加密货币峰会